Retirement Investment in Small Employers Act

12/15/2023, 4:03 PM

Retirement Investment in Small Employers Act

This bill allows an increased start-up tax credit (from $500 to $2,500) for micro-businesses (not more than 10 employees) for the costs of setting up a defined contribution pension plan.

Congress
118
Number
HR - 6007
Introduced on
2023-10-19
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

10/25/2023
Text
PDF
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Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Retirement Investment in Small Employers Act

This bill allows an increased start-up tax credit (from $500 to $2,500) for micro-businesses (not more than 10 employees) for the costs of setting up a defined contribution pension plan.

Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to provide for a microemployer pension plan startup credit.
Policy Areas
Taxation

Comments

Recent Activity

Latest Summary11/13/2023

Retirement Investment in Small Employers Act

This bill allows an increased start-up tax credit (from $500 to $2,500) for micro-businesses (not more than 10 employees) for the costs of setting up a defined contribution pe...

Latest Action10/25/2023
Referred to the House Committee on Ways and Means.